Author: Khusoko

Mr Joseph Malel Choge will be the Managing Director of Unga Group following the retirement of Mr Nicholas Hutchison effective 31st December 2021. Choge is a senior executive with years of experience within manufacturing, telecoms, banking, insurance and Finance. He graduated from the University of Nairobi with a degree in mathematics and later on a Master’s degree in International Management. Previously, he served as Chief Executive Officer of Premier Food Limited (Peptang) where he made significant contributions to the company. The outgoing Nicholas Hutchison has served as a managing director in Unga Group for more than 20years.  “Mr Hutchinson will…

EGM Securities has partnered with Sterling Capital to extend global trading opportunities to Kenyans. The partnership will provide global trading opportunities for Kenyans to trade top-performing global stocks, as well as other asset classes such as indices and commodities like gold and oil.   Samwel Kiraka, CEO of EGM Securities, a subsidiary of the global Equiti Group, said: “The global markets provide Kenyans with great trading opportunities for investment returns. We are very pleased to partner with Sterling Capital to provide global trading opportunities to Kenyans.  “The appointment of Sterling Capital further cements EGM Securities position as the premier provider of…

M-Pesa, the world’s leading mobile money service surged to a fresh record Tuesday reaching 50 million monthly active customers. This strengthens its position as Africa’s largest fintech since its launch more than 14 years ago in Kenya. M-PESA is today available in Kenya, Tanzania, Mozambique, DRC, Lesotho, Ghana and Egypt. “14 years ago, we launched M-PESA to connect our customers to each other and to different opportunities. We are delighted to celebrate this remarkable milestone with our more than 50 million customers across the continent. As an honour to this achievement, we are reiterating our commitment and deepening our focus…

PwC Africa’s six key focus areas for The New Equation strategy are trust, growth, and value creation, ESG, digitisation, international development, and workforce.

Nigerian automotive tech company Autochek acquires Cheki Kenya and Cheki Uganda from Ringier One Africa Media, an online marketplaces company in Sub-Saharan Africa.  In a statement, Autochek said the acquisition of Cheki is the next step to expand its footprint in East Africa and continue its mission to provide seamless access to auto financing across the continent. “We are long-time admirers and collaborators of the Cheki brand. Following today’s news, we intend to provide even more trust and transparency in East Africa’s automotive sector, leveraging the unique networks we are now joining together,” Etop Ikpe, Autochek founder/CEO said. Clemens Weitz,…

Kenya’s forex reserves continued to decline in the week ended  September 3 by KSh11 billion to KSh977.1 billion. According to the latest CBK weekly bulletin, the reserves fell to $8.883billion(KSh977.1billion) from $8.986 billion (KSh988.4 billion) the previous week, a KSh11.3 billion decline. “The reserves are equivalent of 5.43 months of import cover. This meets the CBK’s statutory requirement to endeavor to maintain at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5 months of import cover,” the Central bank said. Cytonn Investments notes that from  August, the Kenya Shilling depreciated by 1.2% against the US Dollar to close…